Terms & Conditions

Is a CIMB Home Loan Right for Me?

CIMB Bank offers a range of flexible packages to suit the different needs of its customers. The conventional HomeLoan comes with a variable interest rate and is particularly suited for buyers who prefer low initial repayments. It also allows for smaller-sized home loans. The minimum loan amount for this product is RM15,000. This CIMB home loan packages cover properties which are either have completed or still under construction. The major risk of this CIMB housing loan is the home loan interest is linked to the Base Rate (BR). An increase in this base rate may results in increase in your monthly repayment. In this particular CIMB home loan product, its CIMB housing loan interest rate is charged as low as 4.2%. With this competitive CIMB home loan interest rate, it will definitely suit you if you are comfortable enough to pay a fixed instalment every month.

CIMB’s full-flexi offering, HomeFlexi is available for loan amounts above RM150,000 and is characterized by high repayment flexibility, as this CIMB flexi home loan gives you the ability to deposit any amount anytime in your linked current account to save on interest. In addition to that, CIMB Bank offers a Capped Rate Home Loan with capped maximum interest rates in the event of BR (Base Rate) movement. The Capped Rate package also offers a repricing option every 3-5 years, so customers can reprice easily without needing to refinance. CIMB HomeFlexi offers you minimum CIMB home loan interest rate at 4.2%. It is always highly recommended to take on any insurance to hedge the risk of losing your beloved property due to unforeseen circumstances alongside with any CIMB home loan including this CIMB flexi home loan. Thus, if you do not earn regular wage and still want to buy your dream house, just sign up for CIMB HomeFlexi with a competitive CIMB housing loan interest rate.

In addition to that, CIMB Bank offers a Capped Rate Home Loan with a capped maximum interest rates in the event of BR (Base Rate) movement. The Capped Rate package also offers a repricing option every 3-5 years, so customers can reprice easily without needing to refinance.

CIMB also participates in the My First Home Scheme, which is designed specifically for first-time buyers under the age of 35, and provides Shariah-compliant home loan packages for Islamic costumers.
CIMB Home Loan recently reinstated a lock in period of 3 years, which is a fairly lenient lock in period when compared across all banks. A margin of financing of up to 90% + 5% can be provided, with the extra 5% used to finance MRTA costs or other entry costs. The 5% allowance depends on the specific package chosen by prospective borrowers.

CIMB offers a loan tenure of up to 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or until the borrower is 70 years of age, whichever is earlier.

You can always use the CIMB housing loan calculator Malaysia tool or iMoney home loan calculator to estimate the monthly instalment you need to pay. For the first-time house buyer, CIMB provides you its CIMB home loan calculator to estimate how much you can borrow. It is very confusing with the whole buying house process such as signing the Sale and Purchase agreement, dealing with solicitors, legal fees and stamp duty. Via CIMB home loan calculator, you can get an idea about your future spending as well as budget control. Another interesting feature about CIMB housing loan calculator is you can also calculate how much you can afford every month too!

CIMB Home Loan Packages

The array of loan packages provided by CIMB, which includes HomeLoan, HomeFlexi, Capped Rate Home Loan and My First Home Scheme can suit various individual needs. We highlighted the key characteristics of all home loan packages for you to compare and find the one that suits your needs.

Product

Key Features

Is this a flexi package?

HomeLoan

Conventional term loan with the option of an overdraft facility

Variable interest rates

No processing fees, commitment fees are waived

No

HomeFlexi

Flexi home loan with the option of an overdraft facility

Save on interest by depositing funds in your linked current account

Variable interest rates

Yes, full-flexi

Capped Rate Home Loan

First in the market to offer a cap on interest rates in the event of BR movements

Option to re-price loan every 3 or 5 years

No

My First Home Scheme

Valid for first home owners 35 years old and below

Enjoy margin of financing up to 100%

Applicable for conventional home loan only

No

Details of CIMB’s Flexi Home Loan Packages

Flexi home packages allow borrowers to make extra repayments every month in order to reduce their monthly interest charges. These packages come with requirements, fees and conditions that should be considered alongside their benefits.

HomeFlexi

Flexi type

Full-Flexi

Is a linked bank account required?

Yes

Account Maintenance Fees

RM10 per month

Redrawal Fees

RM10

Am I Eligible for a CIMB Home Loan?

All Malaysians and permanent residents above 18 years of age can apply for a CIMB home loan.

What Documents Will I Need to Prepare?

If you have applied for a CIMB Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:

Application Form

NRIC / Identity Card

Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer

Sounds Great! How Should I Proceed?

You can use the CIMB Bank home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a home loan with iMoney is absolutely free of charge.

If you are not sure whether this home loan by CIMB Bank is your best option, click here to compare other home loans in Malaysia.

Is It Easy to Repay my CIMB Home Loan?

There are many methods of repayment for CIMB home loans. It also has one of the largest branch networks in Malaysia, which makes physical payments even more convenient.

If you are looking for other home loans, you may also consider

At AmIslamic Bank, the home loan rate starts from Base Rate (BR) 3.80%. There is available the option of a flexi loan package and there is a maximum of 90% margin of financing. There is no lock-in period for this home loan.

Bank Muamalat provides a housing loan rate starting from Base Rate (BR) 3.90%. There is no option of a flexi loan package available and there is a maximum of 90% margin of financing. There is a 5 year lock-in period for this housing loan.

The mortgage rate from Public Islamic Bank starts from Base Rate (BR) 3.65%. The option of a flexi loan package is available and there is a maximum of 90% margin of financing. The lock-in period for this mortgage is 3 years.